Home / Markets / Stock Markets /  Trade setup for July 5, 2022: Top things to know before opening bell
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Equity indices snapped losses after a three-session losing streak as investors snapped up banking, FMCG and IT stocks amid a positive trend overseason Monday. The 30-share BSE Sensex closed 326.8 points higher at 53,234.7 while Nifty rose 0.5% to 15,835. 

Stock market today: Things to know before opening bell -

Global market cues

US markets were closed for the July Fourth public holiday on Monday. Meanwhile, European stocks rallied 0.8% and Britain's FTSE rose over 1%, boosted by gains in oil and gas companies.

Asian stocks traded higher with the Nikkei in Japan gaining more than a per cent while the Topix index rose 0.6%. South Korea’s Kospi also advanced more than a per cent while the Kosdaq surged nearly 3%.

Key factors to watch

Strong June auto sales number, improved GST collection, record property registration in Mumbai, hope of good monsoon and soft commodity price have supported domestic indices despite volatile and uncertain global environment, say analysts. 

Going forward, during the week, markets will take cues from US Fed minutes of meeting (Wednesday). The June quarter earnings season will kick-start with TCS reporting its numbers on Friday followed by Avenue Supermart on Saturday.

SGX Nifty

SGX Nifty indicates a choppy start to the Indian stock markets on Tuesday. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.

Nifty Technical Outlook

“A sustainable upmove in Nifty on Monday suggests a sharp upside bounce in the market ahead. After the false upside breakout of the crucial overhead resistance of 15850 levels (resistance as per the concept of change in polarity) on 27th June, the market has shifted into a range movement and repeatedly tested the hurdle in the last few sessions. The positive sequence of higher tops and bottoms is intact and one may expect more upside to form a new higher top of the sequence in the next few sessions," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

"Over the short term, Nifty the index may move towards 16000/16200. On the lower end, support is visible at 15700/15500," said Rupak De, Senior Technical Analyst at LKP Securities. 

FIIs DIIs activity

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth 2149 crore on Monday while DIIs bought worth 1,688 crore, as per exchange data. So far in 2022, FIIs have sold Indian equities worth more than 2 lakh crore, weighing both on Indian markets and rupee.

“FIIs are still selling but the momentum has come down significantly. Therefore, bulls will look for a relief rally if global markets remain stable," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Oil prices

Oil rose as investors weighed solid physical market signals against concerns that a global slowdown will erode demand. Oil remains more than 40% higher this year after being boosted by the war in Ukraine, which triggered a wave of sanctions on Russian flows.


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